Question
Our 18 (soon to be 19) year old son lives at home with us, attends university full time and earns stellar grades has a part time job and a few friends but spends most of his free time at home. We eat together as a family and he joins us everyday(except when he works on the weekends). In my opinion, his head seems to be on pretty straight (considering he is still a teen).
My question is this, my husband set up his bank account with his name on it along with our sons'. It includes a savings and checking account. The money that goes in it is the money he earns from his part time job or gifts. It is his money to use for recreational activities or if his car needs repairs. (we pay for his schooling). Do you feel it is time that my husband takes his name off the account and stops overseeing what he does with his earnings?
I feel it's time to let him make his own decisions, without his father looking into how much he has saved or spent. He has approximately 4000.00 in savings. He gives us no reason to believe he will do anything sinister with his money and I feel if he does, he is old enough to learn the lesson of consequences.
My husband and I have agreed to take your advice and end the discussion at that.
Thank you!!!
